Dave Posted April 3, 2018 Share Posted April 3, 2018 8 minutes ago, revkevsdi said: I meant to mention bank cards. Not sure if I did or not. But our bank has just changed the exchange rate on atm machine. They charge their exchange rate plus 3%. + a percentage on whatever atm fee there is. I just skimmed the letter but if they had 1/2 point spread on the exchange then they make 3-1/2% in Canada unless it’s one of 5 major currencies they will exchange it to US dollars first the. To Canadian. So if you are getting $100.00 worth of Argentinian pesos from a bank machine. They could conceivably be taking $9.00 in fees. Which is another reason to use your credit card as much as possible. While I’m in bank bitching mode. They do something else to skim from us. I cashed out a cashable gic to buy some property for our new business. They said it will take up 3 days to settle. I gave instructions to have the funds transferred to our other bank on Thursday if they were available. They didn’t show up until today. One full week to get access to a cashable gic. Think of the banks having use of everyone’s money interest free for 5 days. They probably use that as. Float against the credit card debt. Never use a bank card out of Canada. No reason too. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted April 3, 2018 Share Posted April 3, 2018 If I need to exchange money I send my dad. No fees for him being ex employee. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted April 3, 2018 Share Posted April 3, 2018 Prime rate's going up April 10th. It Means economy is doing great. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted April 3, 2018 Share Posted April 3, 2018 1 minute ago, XCR1250 said: Prime rate's going up April 10th. It Means economy is doing great. Thanks Donald. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 3, 2018 Author Share Posted April 3, 2018 Inflation....yeah that’s gonna work out. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted April 3, 2018 Share Posted April 3, 2018 1 hour ago, DISABLED DAVE said: Never use a bank card out of Canada. No reason too. How do you get cash without a bank card? Quote Link to comment Share on other sites More sharing options...
Dave Posted April 3, 2018 Share Posted April 3, 2018 42 minutes ago, revkevsdi said: How do you get cash without a bank card? thats not a serious question is it? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 3, 2018 Platinum Contributing Member Share Posted April 3, 2018 1 hour ago, Mainecat said: Inflation....yeah that’s gonna work out. Would you prefer the economy goes stagnant to keep the rate lower? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 3, 2018 Share Posted April 3, 2018 3 hours ago, revkevsdi said: I meant to mention bank cards. Not sure if I did or not. But our bank has just changed the exchange rate on atm machine. They charge their exchange rate plus 3%. + a percentage on whatever atm fee there is. I just skimmed the letter but if they had 1/2 point spread on the exchange then they make 3-1/2% in Canada unless it’s one of 5 major currencies they will exchange it to US dollars first the. To Canadian. So if you are getting $100.00 worth of Argentinian pesos from a bank machine. They could conceivably be taking $9.00 in fees. Which is another reason to use your credit card as much as possible. While I’m in bank bitching mode. They do something else to skim from us. I cashed out a cashable gic to buy some property for our new business. They said it will take up 3 days to settle. I gave instructions to have the funds transferred to our other bank on Thursday if they were available. They didn’t show up until today. One full week to get access to a cashable gic. Think of the banks having use of everyone’s money interest free for 5 days. They probably use that as. Float against the credit card debt. Gic is pretty much interest free for 365 days. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted April 4, 2018 Share Posted April 4, 2018 13 hours ago, ArcticCrusher said: Gic is pretty much interest free for 365 days. Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. Btw. You and debtor Dave completely missed the point. Again. Quote Link to comment Share on other sites More sharing options...
Dave Posted April 4, 2018 Share Posted April 4, 2018 9 minutes ago, revkevsdi said: Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. Btw. You and debtor Dave completely missed the point. Again. Oh we get your point. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted April 4, 2018 Share Posted April 4, 2018 14 hours ago, ArcticCrusher said: Gic is pretty much interest free for 365 days. Gic is fucking useless. May as well put in a savings account at .25% at least u can get to it. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 4, 2018 Share Posted April 4, 2018 7 hours ago, revkevsdi said: Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. Btw. You and debtor Dave completely missed the point. Again. So non cashable gic's are the long term plan? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 4, 2018 Share Posted April 4, 2018 7 hours ago, awful knawful said: Gic is fucking useless. May as well put in a savings account at .25% at least u can get to it. EQBank gives you 2.3% for savings account. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted April 5, 2018 Share Posted April 5, 2018 8 hours ago, ArcticCrusher said: So non cashable gic's are the long term plan? Wow! You don't understand anything. Maybe you should talk with Dave. Quote Link to comment Share on other sites More sharing options...
Jet Posted April 5, 2018 Share Posted April 5, 2018 Fact of the matter is, people who are living debt free are happiest, no ifs and or buts about it. Debt free=happiness=freedom=hapinesss=debtfree. it took me many life lessons to wrap this around my skull. But it finally sank in. Once you start living like a bad ass, you don't look back. You live happy 1 Quote Link to comment Share on other sites More sharing options...
awful knawful Posted April 5, 2018 Share Posted April 5, 2018 5 hours ago, Jet said: Fact of the matter is, people who are living debt free are happiest, no ifs and or buts about it. Debt free=happiness=freedom=hapinesss=debtfree. it took me many life lessons to wrap this around my skull. But it finally sank in. Once you start living like a bad ass, you don't look back. You live happy You are right. The day I paid the house off was like winning the lottery. Same with new garage, cars, atv. I buy 1 thing at a time, pay it off and move on to something else. Debt free right now. Next is pave the driveway and new sled coming November. Nice when check goes in and nothing comes out. Account grows fast! Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 5, 2018 Share Posted April 5, 2018 7 hours ago, revkevsdi said: Wow! You don't understand anything. Maybe you should talk with Dave. What a fountain of misinformation. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 5, 2018 Share Posted April 5, 2018 13 minutes ago, awful knawful said: You are right. The day I paid the house off was like winning the lottery. Same with new garage, cars, atv. I buy 1 thing at a time, pay it off and move on to something else. Debt free right now. Next is pave the driveway and new sled coming November. Nice when check goes in and nothing comes out. Account grows fast! That's nice but not as sweet as investment growth outpacing anything you put in. 1 Quote Link to comment Share on other sites More sharing options...
awful knawful Posted April 5, 2018 Share Posted April 5, 2018 17 minutes ago, ArcticCrusher said: That's nice but not as sweet as investment growth outpacing anything you put in. I've been putting $350/ month for 20 years in retirement savings. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 5, 2018 Author Share Posted April 5, 2018 On 4/3/2018 at 6:20 PM, steve from amherst said: Would you prefer the economy goes stagnant to keep the rate lower? Yes. Inflation stops economies as well....in their tracks. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted April 5, 2018 Platinum Contributing Member Share Posted April 5, 2018 Ill take mild inflation over stagnation. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 5, 2018 Author Share Posted April 5, 2018 2 minutes ago, steve from amherst said: Ill take mild inflation over stagnation. You can’t order it the way you want Steve....lol the last time we saw inflation it was not pretty. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 5, 2018 Share Posted April 5, 2018 10 minutes ago, awful knawful said: I've been putting $350/ month for 20 years in retirement savings. You think that's good? Its better than nothing, hope you have a pension or its invested wisely. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted April 5, 2018 Share Posted April 5, 2018 That is great. I have a company pension 7% matched. Quote Link to comment Share on other sites More sharing options...
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